The U.S. economy added just 114,000 jobs compared to the 175,000 expected, and the unemployment rate has risen to its highest level since October 2021, according to new government data released Friday. Hourly wages rose just 3.6 percent from July 2023, the smallest year-over-year gain since May 2021.
The big loser on Wall Street Friday is Intel. The company’s stock fell a massive 27 percent. It’s now down 50 percent in the past 12 months. Earnings missed estimates on the top and bottom line, and the company announced it’s laying off 15 percent of its staff. That’s over 17,000 people by some estimates.
